Q3 2024 Earnings Estimate for Bloomin’ Brands, Inc. Issued By William Blair (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Equities researchers at William Blair decreased their Q3 2024 earnings per share estimates for shares of Bloomin’ Brands in a research note issued to investors on Tuesday, August 6th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.41. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.37 per share. William Blair also issued estimates for Bloomin’ Brands’ FY2024 earnings at $2.22 EPS and FY2025 earnings at $2.35 EPS.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Morgan Stanley decreased their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. StockNews.com lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Friday. Finally, BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.33.

Bloomin’ Brands Stock Performance

Shares of BLMN opened at $15.63 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 3.12. The business’s 50 day moving average price is $18.96 and its 200-day moving average price is $23.79. Bloomin’ Brands has a 52 week low of $15.44 and a 52 week high of $30.13. The stock has a market cap of $1.35 billion, a P/E ratio of 24.42 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Bloomin’ Brands in the first quarter worth about $30,000. TFO Wealth Partners LLC raised its stake in shares of Bloomin’ Brands by 284,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after acquiring an additional 2,840 shares in the last quarter. EntryPoint Capital LLC raised its stake in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after buying an additional 3,292 shares in the last quarter. AdvisorShares Investments LLC raised its stake in Bloomin’ Brands by 21.9% in the fourth quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock worth $141,000 after buying an additional 900 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Bloomin’ Brands by 32.0% in the fourth quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock worth $150,000 after buying an additional 1,288 shares in the last quarter.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 6.14%. Bloomin’ Brands’s dividend payout ratio (DPR) is 150.00%.

Bloomin’ Brands Company Profile

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.